Fawaz Abusneineh, Head of Syndications & Specialised Portfolio at NBAD, receives the award
The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, won the “Best Arranger of Middle Eastern Loans” award at Euroweek's 8th Annual Syndicated Loans and Leveraged Finance Awards 2010, as the first bank from the region to win this award.
Euroweek, a London-based weekly publication, announced NBAD the winner of the award, with Bank of Tokyo – Mitsubishi UFJ (BTMU), HSBC and Standard Chartered (SCB) being runners up.
The Euroweek Syndicated Loan Awards are voted for by market participants in a poll that was conducted in November and early December 2010.
“NBAD’s story and progress mirrors the development of Abu Dhabi’s and the UAE as a whole. This recognition by a reputed international publication helps cement the importance of Abu Dhabi and the United Arab Emirates in global finance,” said Mark Yassin, the Senior General Manager of NBAD's Corporate and Investment Banking Division.
“NBAD’s vision is to be the world's best Arab bank. Winning this prestigious award encourages us to leave no stone unturned in meeting and surpassing the expectations of our customers and stakeholders.” he added.
NBAD's Global Project & Structured Finance business (GPSF) experienced a record performance in 2010, closing 14 new deals in various sectors in the UAE, Qatar, and Egypt.
The GPSF team works very closely with the bank’s Syndications & Specialised Portfolio (SSP) team in positioning NBAD as a key player in terms of originating and syndicating large corporate and project finance loan transactions, not only in the UAE, but also in the wider GCC and MENA region.
NBAD has been recognised by prestigious international publications for a series of deals that the Bank played a leading role in facilitating and executing.
“NBAD facilitated and offered financing for mega projects reflecting its strong position even during the most troubled times for financial institutions,” said Rola Abu Manneh, the General Manager of Wholesale Banking Group (WBG) at NBAD.
“This accolade further confirms NBAD's leading role in the syndicated loans market and its commitment to serving and building Abu Dhabi and the wider UAE by supporting milestone events and financing projects in different economic sectors to achieve Abu Dhabi Vision 2030” she added.
Fawaz Abusneineh, the Head of Syndications & Specialised Portfolio at NBAD has accepted the award on behalf of the Bank.